>N.J. governments may need 20% of service cuts, report says
New Jersey’s state and local governments may need to cut services by 20 percent to close growing budget deficits over the next five years, a panel that includes former top-level officials said in a report.
The state will confront a gap between revenue and spending of as much as $8.1 billion by 2017, while towns and cities may face collective shortfalls as great as $2.8 billion, said the group, which was convened by the Council of New Jersey Grantmakers. Counties’ deficits may be as much as $1.1 billion while schools’ gaps may reach nearly $1 billion, the group said. (Dopp, Bloomberg)
